TAMPA, Fla., Feb. 3, 2011 /PRNewswire/ -- Due to changes in market conditions, ICBU management decided to change the focus of its business plan away from the alternative energy industry and instead into medical diagnostics, health and fitness. The company's prior operations surrounding the research and development of alternative fuel based natural substances and bi-products, such as algae and krill oil, lead it into using some of those same ingredients for nutraceutical and health and fitness products.
Accordingly, ICBU acquired the rights to the "Jelco nutrient gel", a promising weight loss product. ICBU will be exploring using the formula to produce a weight management dietary supplement using an innovative delivery method. The acquisition was a stock based transaction, and the company will continue to refine the product to expand its potential.
This is the first step taken by ICBU in the new direction it has adopted. The company is now concentrating on the medical diagnostics, health, nutrition and weight management fields. The company plans to release additional public information regarding its changes in business plan and structure currently.
ABOUT IMD COMPANIES, INC.
IMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the medical diagnostics and health and fitness industries. Its primary products and services lie in the health and fitness nutraceutical and medical diagnostics services markets. The company further plans to expand into the weight-loss industry.
The company delivers its medical diagnostic services on-site participating medical clinics and physician offices. The nutraceutical supplements, pills, bar and gels will be marketed and distributed through participating clinics and on-line web marketing retail methods. The company will continue to develop its innovative marketing strategies, including the use of social networking vehicles.
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
SOURCE IMD Companies, Inc.